Indiana LLC Operating Agreement Forms

Create a high quality document online now!

The Indiana LLC operating agreementis a legal document that will provide assistance to member(s) of businesses of any size, to provide an outline of the company’s organization of members, operational procedures, and many various aspects of the business that will be agreed upon by all members prior to implementation.

Although the State of Indiana does not require companies to file this document, it is, in fact, advised that all companies (size unimportant) have this document available. Without the availability of the document, in the event that the company finds that they are faced with any type of litigation, the laws will default to state laws, leaving all members personally liable for the company’s debts.

The document will create a necessary separation of personal assets and financial accounts, from those of the business. The document is required, to keep the company’s members from becoming vulnerable. To implement the document would also provide much needed tax benefits, that without the document, would not be possible under current state laws.

The member(s) should closely review the entire document, to be sure that the member(s) understand the language. If they find there is confusion, the member(s) may decide to consult with an attorney to answer to clarification of legalities.

Table of Contents

Types

Multi-Member – Use for an LLC with more than one owner to establish primary business operations and financial relationships.

Single-Member – For a company that has just one (1) owner. It is recommended, although not required, to have this form written as to protect the entity status of the business.

How to Form an LLC in Indiana

The State of Indiana requires the name of a Limited Liability Company (LLC) to be distinguishable from the name of any other business operating in the State. To ensure that the name you’ve chosen is available, you may conduct a Business Search of the Secretary of State’s records.

Step 1 – Registered Agent

All LLCs in Indiana must nominate a Registered Agent; the Registered Agent will act as a contact for the business, receiving service of process notices and annual state filings, among other things. The Registered Agent may be a:

Person with residence in Indiana

Incorporated business which maintains their own Registered Agent in Indiana

Step 2 – Entity Type

Choose the type of LLC that you would like to file. A Domestic application should be submitted by those wishing to form a new LLC within the State. If the LLC is expanding into Indiana from an outside jurisdiction, they will be filing as a Foreign LLC.

*Those applying online must create an Account in order to access the Secretary of State filing system.

Step 3 – Pay the Filing Fee

If applying Online, you will be prompted to pay the filing fee by credit/debit card or e-check. Applications submitted via Adobe PDF will need to include a check or money order made payable to the ‘Secretary of State’. The fees are as follows:

Domestic LLC

Online – $95

Adobe PDF – $100

Foreign LLC

Online – $105

Adobe PDF – $125

All paper applications (Adobe PDF) must be delivered to the below address. Foreign LLCs must also attach a Certificate of Existence, dated within the last sixty (60) days and issued by the proper authority in the jurisdiction of initial formation.

302 West Washington Street, Room E-018, Indianapolis, IN 46204

Step 4 – Operating Agreement

An operating agreement is an organizational tool that the managing member(s) of the LLC may use to state, in a clear and legal manner, the operating procedures of the LLC. The form is not required by State law and it is not to be filed with the Secretary of State offices. Instead, it should be distributed internally and agreed upon by each relevant party.

Step 5 – Employer Identification Number (EIN)

An Employer Identification Number (EIN) is issued to business entities for the purpose of reporting tax information to the Internal Revenue Service (IRS). Certain financial transactions will be unavailable unless operating with an EIN, including the payment of withheld taxes on employee wages. The following methods of application may be used to obtain an EIN: